Internal Revenue Service
Tax season to kick off next week, below are key IRS tax deadlines
The 2022 tax season begins next week, but taxpayers may have to brace for delays as the Internal Revenue Service faces a pileup of unprocessed returns due to the COVID-19 pandemic and other related disruptions, according to Fox Business. The National Taxpayer Advocate has sent a report to Congress in which it estimated that the ...
US banks will have to report transactions over $600: Treasury Secretary says it’s not a violation of privacy
The huge 2022 infrastructure budget contains a clause that will force banks and financial institutions to report all transactions over $600 to the IRS (Internal Revenue Service). But, according to the Treasury secretary, it will not violate people's privacy. According to Treasury Secretary Janet Yellen, there are billions of dollars owed ...
Biden potentially avoided $500,000 in payroll tax before taking office says report
A Democrat who occupies the Oval Office could owe the federal government hundreds of thousands of dollars in back taxes, new documents revealed. Joe Biden potentially avoided paying up to $500,000 in payroll tax before he came into office. That is one conclusion from an updated memorandum of Internal Revenue Service ...
Biden admin proposes reporting customer bank accounts to IRS, faces protests
The Biden administration has released a proposal to empower the IRS to monitor transactions going into and out of personal and business bank accounts, raising concerns about Americans' right to privacy. Accordingly, banks would be required to turn over to the Internal Revenue Service (IRS) detailed information on all deposits and ...
IRS will not pay for bipartisan infrastructure bill says GOP Sen. Portman
Proposed tougher tax enforcement rules will not be introduced to fund a $1.2 trillion infrastructure bill, a Republican from Ohio said. Sen. Rob Portman confirmed a major Internal Revenue Service (IRS) revenue-raising measure will not be adopted to pay for the bipartisan bill. Portman revealed his GOP colleagues do not like involving ...
Bipartisan infrastructure bill will drop IRS funding provision says GOP Sen. Portman
A $1.2 trillion infrastructure bill will exclude proposed tougher tax enforcement, a Republican from Ohio said. Sen. Rob Portman is deeply concerned about his colleagues sacrificing a major Internal Revenue Service (IRS) revenue-raising measure, to rescue a bipartisan deal with the Democratic Party. Portman believes it is important to hold suspected tax ...
President Biden wants another CCP virus stimulus package and will introduce ‘ways to pay for that’ says White House
A Democrat who runs the country will consider every option to help pay for another record-breaking relief package, a Biden administration official revealed. The White House suggested President Joe Biden could raise taxes to pay for his next Chinese Communist Party (CCP) virus stimulus bill. "The total package, we are still working out ...
White House will introduce a mega spending proposal that could top $4 trillion says report
Democrats who run the country are expected to unveil a stimulus plan that could cost the nation an unprecedented sum. The Joe Biden administration is preparing to announce an infrastructure, climate, and jobs proposal that could cost twice the amount taxpayers contributed for the largest-ever $1.9 trillion Chinese Communist Party (CCP) ...
New Probe This Week: Baltimore State’s Attorney Marilyn Mosby and her husband City Council President Nick Mosby
According to a congressional subpoena released by The Baltimore Sun, federal prosecutors have launched a criminal investigation into Baltimore City Council President Nick Mosby and State's Attorney Marilyn Mosby, subpoenaing her campaign and the couple's business records. Tax returns, bank accounts, credit card statements, loan papers, and canceled checks were among ...
President Trump cancels CCP Virus stimulus talks after discovering money would help bail out Democrat-led states
Federal relief funds should not be used to pay for the mistakes of "poorly run" jurisdictions, the president said. President Trump has postponed talks with House Democrats on the next CCP (Chinese Communist Party) Virus stimulus package until after the upcoming election on Nov. 3. "I am rejecting their request, and looking ...
President Trump declares he will release tax returns to prove NY Times report is ‘fake news’
A sensational story appeared in one of the nation's oldest newspapers about the president's private financial records, prompting him to fully disclose the information as soon as possible. President Donald Trump is challenging a New York Times article that accused him of not paying any personal income tax in 10 out ...
IRS bypasses Congress to issue CCP Virus stimulus checks to some struggling Americans
A bureau of the U.S. Treasury Department found a way to provide welcome relief to some of those affected by government lockdowns implemented to contain the deadly Asian disease. The IRS will bypass Congress and send backdated CCP (Chinese Communist Party) Virus stimulus payments to about 50,000 struggling Americans, whose economic ...
US Treasury and IRS paid $1.4 billion of CCP Virus stimulus checks to deceased people
A national executive department and its revenue agency accidentally sent federal assistance to more than 1 million dead individuals during the deadly Asian pandemic, a report to Congress said. The U.S. Government Accountability Office (GAO) has found that the Department of the Treasury and the IRS paid nearly $1.4 billion of ...
Trump attorney says IRS cannot legally release tax returns
An attorney representing President Donald Trump argued Friday that a request for the president's tax returns "would set a dangerous precedent" if granted and that the IRS cannot legally divulge the information. Rep. Richard Neal, the Democratic chairman of the House Ways and Means Committee, has formally asked the Internal Revenue ...
APNewsBreak: ‘Alt-right’ group regains IRS tax-exempt status
The Internal Revenue Service has reinstated the tax-exempt status of a nonprofit operated by white nationalist Richard Spencer, who has been banned from using mainstream online platforms to raise money.Spencer's Alexandria, Virginia-based National Policy Institute Inc. automatically lost its tax-exempt status as a 501(c)(3) nonprofit more than a year ago ...

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